Why Check Point (CHKP) Is Leaning on Buybacks and AI Security After Its Reset

Check Point Software Technologies Ltd. (NASDAQ:CHKP) is one of the best underperforming tech stocks to buy for a turnaround. The freshest support for the turnaround case came on May 11, when the company announced a $2.0 billion expansion of its share repurchase authorization. Check Point said it had about 104.0 million ordinary shares outstanding as of March 31 and had repurchased around 230 million shares for roughly $17.4 billion since the start of its buyback program.

The buyback followed a sharp reset in the stock. On April 30, Reuters reported that Check Point shares were down 25% in 2026 as of the previous close and fell further after the company trimmed its full-year revenue outlook due to weaker firewall appliance sales. Still, the same report noted that adjusted earnings rose 13% year-over-year to $2.50 per share, above analyst estimates, while security service revenue grew 11% to $323 million. CEO Nadav Zafrir described the firewall headwind as temporary and pointed to emerging areas such as email, cloud security, AI-related threats, and government and defense demand as growth drivers.

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Check Point also added an AI security catalyst on April 22, announcing plans to integrate its AI Defense Plane with Google Cloud’s Gemini Enterprise Agent Platform to help enterprises secure AI agents through discovery, governance, and runtime protection.

Check Point Software Technologies Ltd. (NASDAQ:CHKP) provides AI-powered, cloud-delivered cybersecurity products through its Infinity Platform, including Harmony for workspace security, CloudGuard for cloud protection, Quantum for network security, and Infinity Core Services for security operations.

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